Prudential Financial Inc. Has $51.17 Million Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Prudential Financial Inc. raised its stake in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 40.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,224,997 shares of the company's stock after acquiring an additional 1,214,992 shares during the period. Prudential Financial Inc. owned approximately 0.85% of Elanco Animal Health worth $51,165,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ELAN. Steward Partners Investment Advisory LLC raised its stake in Elanco Animal Health by 28.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,264 shares of the company's stock valued at $124,000 after purchasing an additional 2,264 shares in the last quarter. DDD Partners LLC bought a new position in Elanco Animal Health in the 4th quarter valued at about $5,974,000. Geode Capital Management LLC raised its position in shares of Elanco Animal Health by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company's stock valued at $115,623,000 after buying an additional 65,303 shares in the last quarter. Atom Investors LP lifted its holdings in shares of Elanco Animal Health by 310.3% during the 3rd quarter. Atom Investors LP now owns 345,855 shares of the company's stock worth $5,081,000 after acquiring an additional 261,559 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Elanco Animal Health by 24.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,084,629 shares of the company's stock worth $13,135,000 after acquiring an additional 209,734 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

ELAN has been the subject of several research analyst reports. Piper Sandler lowered their price objective on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Morgan Stanley dropped their price objective on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Leerink Partners initiated coverage on Elanco Animal Health in a research report on Monday, December 2nd. They issued a "market perform" rating and a $14.00 target price on the stock. UBS Group lowered their target price on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus reduced their price target on shares of Elanco Animal Health from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $15.17.

Elanco Animal Health Trading Down 3.8 %

Elanco Animal Health stock traded down $0.42 during trading hours on Friday, hitting $10.40. The stock had a trading volume of 4,189,495 shares, compared to its average volume of 4,788,321. The business's 50 day simple moving average is $11.23 and its 200-day simple moving average is $12.42. Elanco Animal Health Incorporated has a one year low of $10.03 and a one year high of $18.80. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of 25.99, a P/E/G ratio of 2.50 and a beta of 1.44. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business earned $0.08 EPS. The firm's quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insider Transactions at Elanco Animal Health

In related news, Director Lawrence Erik Kurzius acquired 10,000 shares of the stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $10.90 per share, for a total transaction of $109,000.00. Following the completion of the transaction, the director now directly owns 101,459 shares of the company's stock, valued at $1,105,903.10. The trade was a 10.93 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is owned by company insiders.

Elanco Animal Health Profile

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for pets and farm animals. It offers pet health disease prevention products, such as parasiticide and vaccine products that protect pets from worms, fleas, and ticks under the Seresto, Advantage, Advantix, and Advocate brands; pet health therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications in canines and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides, and other products for use in poultry and aquaculture production, as well as nutritional health products, including enzymes, probiotics, and prebiotics; and a range of vaccines, antibiotics, implants, parasiticides, and other products used in ruminant and swine production under the Rumensin and Baytril brands.